Forex: EUR/USD falls further and posts 1.4663 as fresh intra-day low

By IBT Staff Reporter On 09/24/09 AT 8:34 AM

FXstreet.com (Córdoba) - The Dollar is rising further across the board. EUR/USD broke below 1.4675 and fell to 1.4663, posting a fresh intra-day low. The next level to watch is at the 1.4645 and below at the 1.4600/10 zone (weekly lows). The pair is 0.15% below today's opening price. The Euro failed to hold gains and lost them after the opening bell at Wall Street.

The FastBrokers Research Team afirms: For the downside, the EUR/USD has multiple uptrend lines serving as technical cushions along with weekly lows and the psychological 1.45 level. Therefore, the EUR/USD has several lines of defense to the downside. Though the uptrend is intact, we are initiating a neutral outlook on the EUR/USD as we monitor the behavior of the Dollar and U.S. equities.